Budget and Finance Policy and Procedure Office
A Division of The Office of Budget and Finance
A Division of The Office of Budget and Finance
This crosswalk demonstrates how the requirements of Policy FN01 Cash Revenues are operationalized through Procedure FN2001 Cash Receipts Handling, Depositing, and Reconciliation. It provides traceability between policy requirements and procedural implementation to support compliance, consistency, and audit review.
| FN01 Policy Section | FN01 Policy Requirement Summary | FN2001 Procedure Section | Implementation Description |
|---|---|---|---|
| Purpose | Establishes requirements for collection, safeguarding, depositing, reconciliation, reporting, and auditing of cash revenues | Purpose | Procedure adopts policy intent and defines operational execution for all life cycle stages of cash handling |
| Scope | Applies to all personnel and payment types handling cash revenues | Scope | Procedure confirms applicability to all University personnel and activities defined in FN01 |
| Governance and Oversight | Treasury oversight; no independent processes; internal control accountability | Governance and Oversight | Requires use of Treasury-approved accounts; prohibits unauthorized processes; aligns unit operations with central governance |
| Risk Assessment Requirements | Annual risk assessment of cash handling operations | Risk Assessment Requirements | Defines required assessment criteria, documentation expectations, and audit readiness requirements |
| Recording and Documentation | All transactions must be documented with audit trail; no duplicates; receipts issued | Recording and Documentation | Establishes official record standards, acceptable systems, receipt requirements, and record protection controls |
| Depositing and Transmitting Cash | Timely deposits; restrictions on handling and transmission | Depositing and Transmitting Cash | Defines deposit timing thresholds, approved deposit methods, bag controls, and deposit ticket completion requirements |
| Check Acceptance and Restrictions | Acceptable instruments; endorsement requirements; handling limitations | Check Acceptance and Restrictions | Provides detailed endorsement format, placement, and handling procedures for U.S. and foreign checks, including remote deposit |
| Restriction on Use of Cash Receipts | Prohibits misuse of cash receipts (e.g., petty cash, check cashing) | Restriction on Use of Cash Receipts | Reinforces prohibited uses and ensures funds are properly deposited and not diverted |
| Safeguarding Cash Receipts | Physical security requirements and protection from loss/tampering | Safeguarding Cash Receipts | Defines storage thresholds, safe requirements, transfer practices, and document protection standards |
| Segregation of Duties | Separation of collection, deposit, and reconciliation responsibilities | Segregation of Duties | Establishes required role separation and compensating controls when staffing is limited |
| Credit Card Payments | PCI DSS compliance and secure processing requirements | Credit Card Payments | Defines system restrictions, prohibited data storage, confidentiality, and identification of official record systems |
| Electronic Payments (Wire, EFT, ACH) | Timely recording and secure handling of banking information | Electronic Payments (Wire, EFT, ACH) | Establishes system entry timelines, data security requirements, and fraud prevention controls |
| Audit, Monitoring, and Compliance | Audit authority; corrective actions required | Audit, Monitoring, and Compliance | Defines audit participation expectations, documentation requirements, and corrective action processes |
| Training Requirements | Initial and annual training; PCI DSS training where applicable | Training Requirements | Requires training completion tracking, enforcement, and restriction of duties for non-compliance |
| Roles and Responsibilities | Defines responsibilities for Treasury, Controllership, Unit Managers, and Cash Handlers | Roles and Responsibilities | Assigns operational responsibilities aligned to policy roles and supports accountability structure |
| Policy (General Requirements) | Requires segregation, dual custody, timely deposits, reconciliation, and safeguards | Operational Processing Requirements; Segregation of Duties; Safeguarding; Depositing | Ope rationalizes core control activities through step-by-step workflow, custody requirements, and processing expectations |
| Depositing and Recording (Implicit across sections) | Requires accurate GL recording and reconciliation | Journal Entry Processing; Reconciliation | Defines same-day journal entry requirements, system usage (SIMBA/ServiceNow), and reconciliation procedures |
| Transport Controls (within Depositing requirements) | Prohibits unsecured transport methods | Transporting Revenues | Requires use of approved transport methods and Accountability Transfer Form; prohibits mail transport of cash |
| Returned Checks (Operational responsibility) | Units responsible for returned checks | Processing Returned Checks | Directs units to FN2002 for standardized handling and accountability |
| Exceptions | Formal approval required; documentation and annual review | Exceptions | Defines submission, approval, documentation, and review requirements |
| Violations | Reporting expectations and escalation pathways | Violations | Aligns reporting channels including hotline and supervisory escalation |
| Sanctions | Consequences for noncompliance | Audit, Monitoring, and Compliance (enforced through corrective actions) | Ope rationalizes enforcement through audit findings, corrective actions, and compliance monitoring |
| Further Information | Contact for questions and updates | Contact Information | Directs users to Controllership and GURU request channels |
| Cross References | Related policies and procedures | Cross References | Maintains alignment to all related governing documents |
| Records Retention (via AD35) | Compliance with records retention requirements | University Records Retention and Disposition | Requires adherence to a AD35 and retention schedules for all documentation |